What is ROSCA?
🤝 Community-Based Savings
ROSCA (Rotating Savings and Credit Association) is a group of individuals who agree to meet regularly to save and borrow together. It's a time-tested method of peer-to-peer banking that has helped communities worldwide for centuries.
💰 How It Works
Members contribute a fixed amount regularly to a common fund. Each cycle, one member receives the entire pot. This continues until everyone has received their turn, creating a rotating system of savings and credit.
🌍 Global Practice
Known by many names worldwide - Tandas in Mexico, Chit Funds in India, Gam'eya in Egypt - ROSCAs have been helping people achieve their financial goals without traditional banking for over 200 years.
💡 Why ROSCAs Are Popular
Financial Inclusion: Provides access to lump sums for people without traditional banking access
No Interest: Islamic finance compliant - no interest charged or paid
Social Trust: Built on community relationships and social accountability
Flexibility: Adaptable to different income levels and community needs
Discipline: Encourages regular saving habits through group commitment
Jameia App Features
Secure Platform
Advanced encryption and security measures to protect your savings and personal information
Mobile First
Intuitive mobile app designed for easy group management and contribution tracking
Group Management
Create and manage multiple ROSCA groups with automated payment schedules
Analytics
Track your savings progress and group performance with detailed insights
Smart Notifications
Never miss a contribution with intelligent reminders and group updates
Multi-Language
Available in Arabic and English to serve the diverse Omani community
Trust & Reputation
Built-in member verification and rating system to ensure reliable group participation
Islamic Finance Compliant
Zero interest (Riba-free) system following Sharia principles for ethical savings
How Jameia Works
Create or Join
Start a new ROSCA group with friends or join an existing trusted community group
Set Parameters
Decide on contribution amount, meeting frequency, and payout schedule together as a group
Make Contributions
Contribute your agreed amount regularly through secure digital payments
Receive Payout
When it's your turn, receive the full pot to use for your financial goals